LUKOIL OBTAINS LISTING ON THE LONDON STOCK EXCHANGE

Monday, August 5, 2002

OAO LUKOIL (“LUKOIL”) has made application to the UK Financial Services Authority, in its capacity as UK Listing Authority (“UKLA”), to admit its ordinary shares and its Level 1 American depositary receipts (the “Securities”) to the UKLA’s Official List. The listing is expected to become effective on Tuesday, 6th August 2002. The UKLA has approved LUKOIL’s listing particulars dated 31st July 2002 regarding the introduction of its Securities into the Official List and its supplemental listing particulars dated 1st August 2002 regarding the same (together, the “Listing Particulars”).

LUKOIL has published the Listing Particulars, copies of which are available for inspection at the Document Viewing Facility of the UKLA, 25 North Colonnade, Canary Wharf, London E14 5HS, United Kingdom. In addition, listing particulars may be collected free of charge during normal business hours on any weekday (excluding Saturdays, Sundays and public holidays) from 1st August 2002 up to and including 14th August 2002 from The Bank of New York, One Canada Square, London E14 5AL, United Kingdom.

This announcement is not for publication or distribution or release in the United States of America (including its territories and possessions, any State of the United States and the District of Columbia). This announcement does not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities in the United States or any other jurisdiction. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.